fy2019 financial results briefing · fx impact japan americas europe china & asia (unit:...

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

June 11, 2020

MITSUBISHI LOGISNEXT CO., LTD.

FY2019 Financial Results Briefing

(FY2019:From April 1, 2019 to March 31, 2020)

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

President and CEO, Takashi Mikogami

FY2019 Financial Results

(FY2019:From April 1, 2019 to March 31, 2020)

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved. 3

Economic Market Trends

Summary of FY2019 Results

1. In the global economy, the impact of trade friction between the U.S. and China

has accelerated the restraint of new investment in many countries, particularly

in the manufacturing industry.

2. As a result of the above effects on the logistics industry, many capital

investments were postponed in various regions. In addition, the competitive

environment has become even more severe, and the COVID-19 pandemic issue

has caused some concern about future market trends. The situation cannot be

ignored.

1. Despite a decline in overseas forklift demand, net sales increased +0.1% year-on-

year, due to the consolidation of Equipment Depot, Inc. (hereinafter “EQD”) in

the Americas.The 9-months(from July 1, 2019 to March 31, 2020) financial results of EQD have been

included in the above Consolidated Financial Results of FY2019 due to changes in the closing

dates.

2. Operating profit decreased ▲35.9% year-on-year, due to lower sales in the

Americas and China especially.

3. The Group recorded impairment loss on subsidiaries in Europe, China and

Thailand.

1. FY2019 Summary

© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved. 4

Profit and Loss

StatementFY2018 FY2019 YOY Change

Net Sales 4,483.8 4,489.2 +5.4 +0.1％

Operating Profit(Before amortization of goodwill)

(Operating profit margin)

219.8（4.9％）

183.3（4.1％）

▲36.5 ▲16.6％

Amortization of

Goodwill88.2 98.9 ― ―

Operating Profit(Operating profit margin)

131.6（2.9％）

84.4（1.9％）

▲47.2 ▲35.9％

Ordinary Profit(Ordinary profit margin)

137.1（3.1％）

70.5（1.6％）

▲66.7 ▲48.6％

Profit Attributable to

Owners of Parent(Net income margin)

70.8（1.6％）

▲52.4（▲1.2％）

▲123.2 ―％

Balance Sheet FY2018 FY2019 YOY Change

Total Assets 3,677 3,736 +60 +1.6％

Total Liabilities 2,992 3,163 +172 +5.7％

Net Assets 685 573 ▲112 ▲16.3％

Unit: Hundred million JPY

FY2018 actual FX rates: USD = JPY110.91, EUR = JPY128.41, CNY = JPY16.75

FY2019 actual FX rates: USD = JPY108.74, EUR = JPY120.82, CNY = JPY15.60

2. Financial Highlights

1,836 1,790

2,648 2,699

0

1,000

2,000

3,000

4,000

5,000

FY2018 FY2019

Domestic Business Overseas Business

92.9 84.5

126.998.8

0.0

50.0

100.0

150.0

200.0

250.0

FY2018 FY2019

Domestic Business Overseas Business


Net

Sale

sO

pe

rati

ng

Pro

fit*

Japan

40%(41%)

Europe

17%(18%)

Americas

36%(32%)

China

& Asia

7%(9%)

Domestic

Business

46.1%

(42.3%)

Overseas

Business

53.9%

(57.7%)

* Operating Profit before amortization of goodwill

FY2019 Sales by Region

FY2019 Operating Profit by Segment

Unit:

Hundred million JPY

Unit:

Hundred million JPY

() = previous year

3. Business Results by Segment

4,484 4,489

219.8

183.3

() = previous year

Net Sale: The proportion of the Americas increased due to the new consolidation of EQD.

Operating profit (*) : Increased proportion of domestic business (impact of 1.5b Yen of adjustment

concerning the transfer price of transactions between ML and Americas subsidiary).

865.3 889.5

970.2 900.9

0

500

1,000

1,500

2,000

FY2018 FY2019

1H 2H

707.6 636.2

745.1 992.7

0

500

1,000

1,500

2,000

FY2018 FY2019

1H 2H

383.1 382.3

413.9 377.4

0

200

400

600

800

1,000

FY2018 FY2019

1H 2H

199.0 162.8

199.4147.2

0

100

200

300

400

500

FY2018 FY2019

1H 2H


Japan Americas

Europe China and Asia

(Unit: Hundred million JPY)




4. Sales by Region

1,835.5 1,790.4

1,452.71,628.9

759.7797.0 398.4

310.0

※ Newly consolidated EQD contribution +35.7BJPY


FY2018 FY2019

FX

impact

Japan

Americas

Europe China & Asia


5. Net Sales FY2018 vs FY2019

EQD

▲81.8

9.4

357.0

4,4844,489

▲39.9

▲148.5

▲90.9

The only increase in local currency terms

excluding the impact of foreign exchange rates.

Increase

by 0.54 billion yen

Sales increased by 0.1% YoY due to the new consolidation of EQD in the Americas.

Sales reached a new record high.*Excluding the impact of the consolidation of EQD, sales were down 7.8% YoY due to lower sales in the Americas and China.


EQDFX

effects

Sales

price

improve-

ment

6. Operating Profit FY2018 vs FY2019


FY2018 FY2018

(Before amortization

of goodwill)

Amortization

of goodwill

FY2019


of goodwill)

FY2019

Gross profit

decrease

due to sales

decrease

/Mix

Cost

reductions

EQD

Acquisition

Cost Expense

increase

Operating profit decrease

by 3.65 billion yen(Before amortization of goodwill)

Amortization

of goodwill

▲98.9

9.2

84.4

131.6

▲7.1▲1.９

183.3

16.7▲0.64.3

219.8

▲88.2

16.6▲63.8

▲18.3

8.4

OthersRefunds

of US tariffs

Lowoperations

Profit decline was primarily the result of decrease of sales in America and China and

reduction in operation capacity which exceeded positive impact from the rise in the

sales prices and the cost reductions.

YoY 16.6% (Before amortization of goodwill) / ▲35.9% (After amortization of goodwill)


7. Recording of Impairment LossesConservatively reviewed the value of assets held (goodwill and fixed assets) and

addressed concerns in light of the deteriorating business environment.

⇒Relieve the risk of impairment in the future.

■ D/E ratio worsened from 2.5 to 3.3 times

■ Equity ratio decreased from 18.0% to 14.7% △3.3 points

Our first priority :

Revitalization and strengthening of the financial structure

Allocate free cash flow after shareholder returns to repay debts and

improve the capital adequacy ratio as soon as possible.

Future

Financial

Policy

Unit: Hundred million JPYImpairment

loss

Europe Goodwill impairment 61Although the European business is keeping profitable, the future plan is conservatively

reviewed in light of the deterioration of the business environment caused by COVID-19.

Asia Goodwill impairment 5Accounting treatment of the business transfer of the Thai subsidiary as a result of the

Asian restructuring.Profitability in Asia improved as a result of the reorganization.

China Impairment of fixed assets 14Due to the deteriorating performance of the former UC subsidiary, almost all fixed assets

were impaired.

80Total

1,726 1,801

1,951 1,936

FY2018 FY2019

685 573

2,992 3,163

FY2018 FY2019


Assets

Lia

bil

itie

s/

Net

Assets

Current assets: DecreaseDecrease in accounts receivable and inventories due to lower sales

Fixed assets: IncreaseIncrease in assets and goodwill due to the consolidation of EQD

Liability: IncreaseIncrease in borrowings due to the consolidation of EQD and other factors

(net decrease excluding EQD)

Net assets : DecreaseDecrease in retained earnings and foreign currency translation

adjustments etc. due to net loss

Liabilities

Increased by

17.2 billion yen

Net assets

decreased by

11.2 billion yen

Assets

Increased by

6.0 billion yen


8. Consolidated Balance Sheet

Current assets 1,951 1,936 ▲ 15(Tangible fixed assets) 846 1,014 +168(Intangible fixed assets) 680 632 ▲ 48(Inv estments and

other assets) 200 154 ▲ 46

Total fixed assets 1,726 1,801 +75

3,677 3,736 +60

Item Change

Total assets

FY2018 FY2019

Current liabilities 1,535 1,544 +10

Fixed liabilities 1,457 1,619 +162

Total liabilities 2,992 3,163 +172

Total net assets 685 573 ▲ 112

3,677 3,736 +60Total liabilities and net assets

Item ChangeFY2018 FY20193,677

3,736

3,736

3,677

Total assets and liabilities increased due to the new consolidation of EQD

and an increase in borrowings associated with the acquisition of EQD.


FY2019

132.7153.4

Cash and cash equivalents increase +20.6

+61.0▲254.9

▲250.1

+77.0

+233.7+4.8▲88.3

▲13.9

+9.2 +4.6

Cash generated by

operating activities +421.7Cash used in

investing activities ▲491.2Cash used in

financing activities +96.0

Free cash flow

▲69.5

▲5.9

+80.3

+26.0

+137.2

Investments and borrowings

in connection with

the acquisition of EQD

FY2018

1. Operating C/F increased by 20.3 billion yen (21.9 billion yen YoY). The main

contributors to the increase were inventory reductions (+11.1 billion yen) and the new

EQD consolidation.

2. Excluding the investment in EQD (approximately $250 million), acquisition costs and

other special factors such as the sale of the subsidiary, actual value of FCF is about

17 billion yen.

9. Cash Flow


Pre-tax

profit

Other

Operating

CFAmortization

of

goodwill

Depreciation

expenses

Impairment

loss

Tangible fixed

asset acquisition

Tangible

fixed

asset sale

Short-term

loan

decrease

Other

Investing

CF

Short-term

borrowings

increase

Long-term

borrowings

increase

Cash

dividends

payment Other

financial CF

FX

impact, etc.


10. Financial Forecast for FY2020

1. The impact of the expansion of COVID-19 pandemic is difficult to

calculate, thus the full-year financial forecast is not yet determined.

2. It will be difficult to achieve the goals of the "Perfect Integration 2020"

plan, which is a four-year medium-term management plan ending in

FY2020.

External environment

① Deteriorating market conditions due to

US-China trade friction

② Material costs remain high

③ Uncertainty about the timing of

convergence of COVID-19 infections

④ Restrictions due to lockdown and self-

restraint

⑤ Uncertainty about the timing of

resumption of economic activity (e.g.,

policy trends in various countries)

⑥ The risk of a global recession

Our forecast

① Financial forecasts for FY2020 will be

announced as soon as it become

available.

② New medium-term management plan for

FY2021 and beyond will be announced

as soon as it is formulated, depending

on the external environment and market

trends.


11. Medium-term management plan vs results(sales and operating profit*)

203

247

285

167191

220183

4,221

4,304

4,435

3,964

4,331

4,484 4,489

3,400

3,600

3,800

4,000

4,200

4,400

4,600

0

100

200

300

400

500

600

FY2016 FY2017 FY2018 FY2019

Sales exceeded the mid-term management plan (FY2017-FY2020) due to the new

consolidation of EQD.

Operating income fell short of expectations due to soaring material costs and

trade friction between the U.S. and China, although the company was able to reap

the synergies from the integration with UC almost as expected.

※FY2016 is a virtual consolidation

Integration

operating profitSales

Medium-term management plan

Results

* Operating Profit before amortization of goodwill



12．Progress of Mid-term Management Plan

FY2016 Actual

(Before amortization of goodwill,)

FY2016 Virtual Consolidation →

FY2018 Results

Synergy creation was achieved, mostly for cost

reductions, but was affected by soaring material

costs and U.S. tariffs

FY2019 Actual

(Before amortization of goodwill)

FY2018 Actual

(Before amortization of goodwill)

38

54

31

47

23

123 70

220（4.9％） 183

（4.1％）167

（4.2％）

Sales price

improvement

Cost reduction

EQD 10 Low operations

17９

18

64

48 84

84

Refunds of

US tariffsOthers

2 Others

Up to the last fiscal year, synergy creation proceeded almost as expected, but earnings fell

due to a decline in sales and operations caused by deteriorating market conditions in the

U.S. and China due to trade friction between the U.S. and China. Sales price improvement

was reduced.

FY2018 Results → FY2019 Results

Some U.S. tariffs were refunded.

Sales price improvement was greatly reduced by

discounts to secure orders.

Sales price

improvement

Cost reduction

Service expansion,increased sales, etc.

U.S. tariffs

Material cost increase

Operating profit

5.32 billion yen

increase(Before amortization

of goodwill)

Operating profit

3.7 billion yen

decrease(Before amortization

of goodwill)

Sales decrease



【Reference】 Key Performance Indicators

The capital adequacy ratio

worsened in line with the

decline in retained earnings.

Indicator FormulaFY2018 FY2019

Comments(Before amortization

of goodwill)


of goodwill)

Pro

fita

bil

ity

Operating profit marginOperating profit

2.9% （4.9％） 1.9%

(2.8％)The index deteriorated from the

previous year due to a net loss resulting

from impairment losses on subsidiaries

in Europe, China, and Thailand, which

were recorded as extraordinary losses.

Total assets

Return-on-equity (ROE)Net income

11.2% （20.4％） -8.7% (12.2％)Shareholders' equityP

erf

orm

an

ce

Return-on-assets (ROA)Net income

1.9% （4.2％） -1.4%

(4.1％)The index worsened from the previous

year due to the trade war between the

U.S. and China and deteriorating

earnings due to the spread of new

pneumonia infections.

Shareholders' equity

Sales

Net income marginNet income

1.6% （3.5％） -1.2% (2.5％)Sales

Total assets

Receivable turnoverSales

5.8 times 5.8 times

Total asset turnoverSales

1.2 times 1.2 times

Accounts receivable

5.5 timesInventories

Fin

an

cia

l

So

un

dn

ess

Capital adequacy ratioShareholders' equity

18.0%

Asset

Eff

icie

ncy

Inventory turnoverCost of sales

5.6 times

14.7%Total assets

D/E ratioInterest-bearing debt

2.5 times 3.3 times

Sah

re

Earnings per shareNet income

JPY 66.48 JPY ▲49.24

Stock prices：

End of FY2018：JPY1,205

End of FY2019：JPY 874

Earnings per share

Price book value ratio

(PBR)

Share value1.9 times 1.7 times

Book value per share

Shares outstanding

Price earnings ratio

(PER)

Share value18.1 times ▲17.7 times

424.3 440.9 479.7 490.4 422.5 466.9 434.1 466.7

640.6 649.0 667.6 690.8 627.9 553.4 599.8 560.4

241.4115.6

0

200

400

600

800

1,000

1,200

1,400

Domestic Business Overseas Business EQD

17.3 16.3 33.3 25.9

12.9 24.0

13.8

33.5

19.9 34.4

33.6 38.8

32.5 24.1

23.9

8.5 8.9 0.7

0

20

40

60

80

Domestic Business Overseas Business EQD


Net

Sale

s

FY2018 FY2019

FY2018 FY2019

1Q



1Q2Q 2Q3Q 3Q4Q 4Q

1Q1Q 2Q 2Q3Q 3Q4Q 4Q

【Reference】 Quarterly Financial Results

1,142.81,065.0 1,089.9

1,147.4 1,181.31,050.5 1,020.4

1,275.4

42.837.2

50.7

67.0 64.7

45.4 48.2 46.7※1 ※2

※3

Op

era

tin

g

Pro

fit

(*)

* Operating Profit before

amortization of goodwill

※1,2：Excluding EQD acquisition costs

※3： 1.5 billion in transfer pricing adjustments from the Americas

0.0

20.0

40.0

60.0

0

50

100

150

200

250

300


【Reference】 Capital Expenditure and R&D Expenses

FY2018 FY2019 FY2020 Plan

Operating investments

Lease/rental investmentsUnit: Hundred million JPY

■ Capital Expenditure

■ R&D ExpensesUnit: Hundred million JPY

FY2018 FY2019 FY2020 Plan

178

271

52.955.3

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

0

200

400

600

800

1000

1200

1400

1600

1800

Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020


May 2017

Announced integration

with UniCarriers

Corporation

July 2015

Announced acquisition

of UniCarriers

Corporation shares

October 2017

Established

“Mitsubishi

Logisnext Co., Ltd”

November 2012

Announced merger with

Mitsubishi Heavy

Industries Ltd.

April 2013

Established

“Mitsubishi Nichiyu

Forklift Co., Ltd”

2020

Year high value: 1,729 yen (Feb 13)

Year low value: 700 yen (Mar 19)(as of June 8, 2020)

Closing price

on June 8

1,126Yen

(JPY) (JPY)

【Reference】 Stock Price Trend

Nikkei Average

Logisnext share value

FY2020 Business Plan

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.



Since taking office, we have promoted PMI activities and cash

flow management, but unfortunately our medium-term business

plan has been at a standstill due to various factors. At present,

the situation is unsettled due to the expansion of COVID-19

pandemic in addition to the US-China problem, but logistics is

the foundation of society and we are sure to expand. We are

confident that we can provide our customers with solutions and

meet their expectations with our world-class material handling

equipment technology.

I have been appointed to succeed Mr.Mikogami as president.

My name is Takashi Kubo. In spite of the extremely difficult

business environment, the Mitsubishi Logisnext Group will work

together to move forward as one group to achieve this goal.

We will do our best to overcome the difficulties and show you

further growth and development.


Takashi Kubo（ Scheduled to become president and CEO on June 25.）

1. Message from the President and CEO

467 506

556 524

81.1% 81.6% 82.8% 82.7%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

0

100

200

300

400

500

600

FY2016 FY2017 FY2018 FY2019 FY2020

83 86 90 89

62.7% 63.4% 63.6% 65.3%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

0

20

40

60

80

100

FY2016 FY2017 FY2018 FY2019 FY2020

266 280

305 301

65.5% 64.1% 63.4% 65.3%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

0

50

100

150

200

250

300

350

FY2016 FY2017 FY2018 FY2019 FY2020

88

101

115

100

50.4% 50.0% 52.0%56.5%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

0

20

40

60

80

100

120

140

FY2016 FY2017 FY2018 FY2019 FY2020

300

390

454 438

32.7%37.2%

42.0% 45.3%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

0

100

200

300

400

500

600

FY2016 FY2017 FY2018 FY2019 FY2020


Europe(incl. Middle East & Africa)

Japan Americas

Due to restrained capital expenditures resulting from the stagnation in the world manufacturing

industry, the global market in FY2019 decreased ▲4.5% (YOY) to 1.451 million units.

Asia & Oceania ChinaAsia &

Oceania

6.9％

China

30.2％

Japan

6.1％Markets units

Percent electric forklifts

Europe(incl. Middle East

& Africa)

36.1％

Americas

20.7％

(1,000 units) (1,000 units) (1,000 units)

(1,000 units) (1,000 units)

Global Market

In FY2019

1.451million units

(Electric forklifts: 64.9%)

2. Forklift Market Trends 【Shipping】

22.2 20.7 21.6 20.5 22.5 20.9 19.5 20.0

56.0 50.1 58.2 46.3 51.3 48.4 57.6 44.1

67.1 58.1

62.6 63.0 58.5 53.7

61.4 55.2

92.2

76.6 68.0 89.7 83.2

75.5 75.3

69.2

22.7

21.2 21.5 18.9 19.7

17.9 18.7

16.8

0.0

50.0

100.0

150.0

200.0

250.0

300.0

FY2018-1Q FY2018-2Q FY2018-3Q FY2018-4Q FY2019-1Q FY2019-2Q FY2019-3Q FY2019-4Q

Order intake（excl. Class III*）

Japan Americas Europe(incl.Middle East & Africa) China Asia & Oceania


(Unit: Thousand units)

235.2226.7 216.5231.8 238.3

260.2

Year-on-year

▲ 4.5%

Year-on-year

▲ 9.6%

232.5

Year-on-year

+ 0.3%

205.3

Year-on-year

▲ 13.8%

※Class III : Self-propelled electric small lift

1. Despite a slight year-on-year recovery in the third quarter, the expansion of COVID-19 pandemic

affected the orders for 4Q in all regions (-13.8% YoY).

2. In the 4Q y/y, Japan and the Americas were relatively strong; however, China suffered a

significant decrease due to the lockdown after the New Year's holiday, and Europe and Asia also

fell to double digits due to refraining from activities.

3. Forklift Market Trends 【Orders】


■ Production Plant Operations

1. No major parts supply problems, and operations are normal.

2. However, capacity utilization rates worsened owing to a

decrease in orders.

Japan

Plant：Kyoto・Shiga・Saitama・Hiroshima

1. Operations were halted because of the order to stand by at home

due to the lockdown and production was adjusted in response to the

decrease in orders. Operations are now back to normal.

2. MLSP：Operations were suspended from late March to mid April

and mid May.

3. MLFI ：Operations were suspended from mid to late May.

Europe

Plant：MLSE（Sweden）MLFI （Finland）MLSP（Spain）

1. MCFA shut down operations in early May due to production

adjustments. It is now operating as normal.

2. UCA closed part of the plant for about a week in late May, but

resumed operations in June. Operations are now back to normal.

Americas

Plant：MCFA（TX）・UCA（IL）

1. Since the second half of March, there have been no stoppages in

operations at the Dalian and Shanghai plants and no problems with

parts supply, etc., and operations have been normal.

2. However, the impact of the decline in orders was significant.

(including exports to Europe and Asia).

China

Plant：MFD（Dalian）NFS（Shanghai）UCCA（Hefei）

1. No shutdowns or parts supply problems, and normal operations.

2. The lockdown adversely affected the operations of the sales offices.

Asia

Plant：LMT（Thai）

4. The impact of the COVID-19 pandemic

Strive to secure profits through business management

that responds to changes in the market environment


Operational efficiency

＜Workstyle reforms, IT＞

① Use of robotics for indirect operations

② New system introduction to improve

efficiency

③ Remote work retention and continuity

④ Use of tele- and web

conferencing(reduce travel)

Reduced fees

＜ Drastic reductions in fixed costs ＞

① Furlough・Use of subsidy programs

② Streamline staffing

③ Procurement and transportation cost

reduction

④ Partial reduction of executive

compensation

➢ An emergency task force has been set up under the direct supervision of the president,

and cost reductions are being implemented around the world without exclusion.

1. Thoroughly reduce costs and review fixed costs, including the nature of fixed costs.

5. Emergency management measures


■ Reorganization

➢ Foster and strengthen cooperation among development, production and sales functions

1. We will seek to maximize the Group's overall strength by realizing cost

synergies through the reorganization of overlapping functions and management

infrastructure, and by strengthening the functions of each company.

Japan Americas Europe Asia

Reorganized 11 domestic direct

sales companies from 2 lines

into 9 companies from 1 line.(Scheduled for October 1, 2020)

Reorganized the direct sales

network in North America

(former UC Sales Company)

under the umbrella of EQD.

Group subsidiaries in Europe to

be restructured on April 1, 2020

Consolidate the control and

sales functions of the Thai

sales companies to Singapore.

1. Centralized sales and

service system for

customers

2. Improving the efficiency

of duplicate sites and

departments

1. Horizontal expansion of

EQD's rental business

and other expertise

2. Unification of the sales

department's chain of

command

1. Consolidation of the

head office management

function and sales

management function

2. Strengthening Cross-

Sectional Cooperation

among Production Sites



departments

1. Consolidation of Asian

management functions



departments

＜ Benefits of the EQD Acquisition＞

Short-term：Strengthen profitability (bring in service revenues, expand rental

and used car business) and improve dealership management

Long-term ： Horizontally develop business management methods,

standardize rental and used vehicle platform systems,

and strengthen sales measures

6. Strengthening the Group's overall strength


■ Production of MLFI-designed battery cars begins at MLSP

➢ Optimizing production sites to meet the growing demand for electric vehicles

1. MLFI (Finland) will begin producing 2-3 metric tons of counter battery vehicles designed

and produced by MLFI in April at MLSP (Spain) as a unified model for Europe.

2. As the flagship model of the company's integration in Europe, the company is looking to

expand its sales on a global basis.

MLFI Design

MLSPProduction started

in April 2020.

MLFI

【 Product Features 】

① Sophisticated Scandinavian design

② Provides a comfortable driving

environment, safety and stress-free

visibility

③ Stable running performance and

low power consumption thanks to

a two-motor drive

④ A wide range of performance

adjustment functions allows for

optimal settings for each work

environment

Cost

improve-

ment

Salesexpansion

Producti-

vity

Improve-

ment

Market

share

increase

Aim to achieve these goals

7. Optimal resource allocation for development and production


■ UCA and Brain's technology partnership

➢ Improving Product Value through the Use of AI

1. UniCarriers Americas Corporation (UCA) in the United States has formed a

technology partnership with Brain Corp (Brain), an AI company for the robotics

industry, to develop AGVs.

2. Under the partnership, UCA licensed BrainOS®, a cloud-connected operating

system for commercial autonomous robots. Work on developing AGVs for

retail stores and warehouses.

3. We aims to further expand its business in response to the growing need for

automation worldwide.

Outline of Brain Corp

Company name

Brain Corp

Location10182 Telesis Court Suite 100

San Diego, CA

Businessdescription

AI company creating transformative core technology for the robotics industry

Auto-D

8. Growth business (partnership with AI start-ups)


■ Combination sale of AGV/AGF and rack

➢ Development of products and services that support society 24/7

1. Develops an unmanned transportation and storage system that combines AGF/AGV

and racks (e.g., horizontal fluidized bed drive racks and motorized moving racks).

Realizes more efficient work with less space than conveyorized transport.

2. We will continue to expand our products and services to meet the needs of our

customers with a variety of solution technologies.

Specialized AGV

Delivery to a bread manufacturer

AGV with refrigerated cabin

AGV with clean cabin

AGF and Auto-through rack(horizontal fluidized bed drive racks)

9. Growth business (expansion of logistics solutions)

29

NodeMarine

transport

⚫ Port Logistics

Terminal AI eliminates

waiting in front of the trailer gate

⚫ Transportation

from Overseas

Factories

Node (Harbor) Production base Nodal point(Warehouses, transit points,

retail stores)

１．Example of Logistics MaaS (Mobility as a Service) Concept

２．Our Vision


Aiming to be a core player in the future logistics MaaS market with data-connected solution technology

Data flow

＜ Excerpt from "Logistics MaaS Study Session" by the METI ＞

10. Future of Logistics and Our Vision

Aiming to solve social issues and increase the added value of logistics by realizing optimal logistics

through the combination of data linkage among shippers, transporters and vehicles and the automation of

logistics functions.

NodeTrunk-line transportation Branch line delivery (intra-regional to terminal)

Larger and more automated vehicles have led to

a dramatic increase in the amount of transportation

per vehicle (one driver).

Production

base

⚫ Auto-tuning in restricted area

⚫ Manned column run (Lv2, 3), Lv4 run

⚫ FC Truck

⚫ Joint/consolidation transportation

The rate of actual vehicles has been increased

by the freight and vehicle seeking system

⚫ Return shipment matching

⚫ Rest, transshipment, etc.

⚫ Double-connected truck

⚫ Introduction of automated cargo handling and AGVs

⚫ Birth reservation

⚫ Swap body

⚫ Joint transportation

⚫ Standardization of pallets

and packaging materials

Seamless transshipment is realized by linking logistics information

with infrastructure information

warehouse

SA/PA etc. transfer point

Optimal transportation and

delivery based on production

and sales forecast information

in accordance with cargo OD

Information

collaborative

platform

Retail Stores

Warehouse and wholesale

Retail Stores

Retail Stores

⚫ Optimal route and

energy management

⚫ Use of electric

commercial vehicles

The introduction of electric vehicles is on the rise

Consumer⚫ Joint/consolidation

transportation

Shipper matching

increases loading rates.

05_トランスファークレーン紹介3_01.mp4

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved. 30

Company Name Mitsubishi Logisnext Co., Ltd.

Head Office 1-1, 2-Chome, Higashikotari, Nagaokakyo-shi, Kyoto

Established August 1937

President and CEO Takashi Mikogami

Paid-in Capital 4,894 million yen

Business Lines

Design, development, production, and sales of electric and

engine forklifts, conveyor robots, automated warehouse

equipment, warehouse management systems, construction

machinery, industrial engines, transmissions, etc.

Operation CentersJapan: Kyoto, Shiga, etc.

Overseas: United States, Europe, China, Asia, and others

Number of

EmployeesApprox. 12,000 employees

Production Capacity

per YearApprox. 110,000 units

【Reference】 Company Profile


Mitsubishi Logisnext

Headquarters (Kyoto)

Office (Tokyo)

11 Direct Distributors

① Logisnext UniCarriers

② Logisnext Hokkaido

③ Logisnext Tohoku

④ Logisnext Tokyo

⑤ Logisnext Shinetsu

⑥ Logisnext Shizuoka

⑦ Logisnext Chubu

⑧ Logisnext Kinki

⑨ Logisnext Chugoku

⑩ Logisnext Shikoku

⑪ Logisnext Kyushu

Onomichi Plant(UniCarriers Handling

Systems)

Shiga Plant

Azuchi Plant

Headquarters

Kyoto Plant

Mitsubishi Logisnext Office and Plant

Sales Subsidiary Head Office

② 8 bases

① 7 branch offices 132 bases nationwide

④ 31 bases

⑤ 7 bases

⑥ 5 bases⑦ 21 bases

⑧ 14 bases

⑨ 17 bases

⑩ 7 bases

⑪ 19 bases

③ 15 bases

5 Production Bases and 11 Direct Sales Subsidiaries

【Reference】 Japan Domestic Network

Konosu

Plant(Global Component

Technology)



Forklift(Shanghai)

Logisnext

Manufacturing

(Thailand)

Mitsubishi Heavy

Industries

Forklift Dalian

Mitsubishi

Caterpillar Forklift

America

Shanghai Nichiyu

Forklift

manufacturing


Asia Pacific

Mitsubishi LogisnextEurope Oy (Finland) Equipment

Depot, Inc.

Mitsubishi

Logisnext

Europe B.V.


Europe S.A.(Spain)

Mitsubishi

Logisnext

Europe AB

(Sweden)

UniCarriers China

Corporation

UniCarriers Americas

Corporation

【Reference】 Overseas Network

Production Bases

Main sales Bases


Selection and concentration of management resources

New Model Launch

1. In November 2019, the first new model after integration, 「ALESIS」was released. The strengths of 4 old models have been combined into 1.

2. We will continue model integrations to improve production efficiency

and enhance our market presence.

1. All shares of Nichiyu Machinery Co., Ltd. were transferred to

Japan Steel Works, Ltd.

2. Further concentration of resources on the material handling

equipment business.

Strengthening Sales Business

1. Two North American direct sales companies (DEC / SCMH) will

become an affiliate of EQD. We will expand the after-sales and

rental business know-how of EQD, and pursue higher profitability.

2. We will continue to strengthen our direct sales and service businesses

in the North American market to develop new business models and

establish a firm business foundation. EQD

【Reference】 Topics in FY2019

2 Axial rotary winder


■ New experimental facility, the Technology Development Center,

began operation on April 1.

➢ Strengthen R&D capabilities

1. Integrates laboratories from Kyoto Plant, Shin-Kawasaki Office, and Shiga Plant.

2. By relocating the Technical Headquarters to the Shiga Plant, the core of the manufacturing Division,

we aim to higher product quality, higher operating efficiency, shorter development lead times,

and stronger development capabilities in growth fields.

Technical Development Center

Technical Development Center

Laboratory Building Laboratory BuildingOutdoor Test

Course

Location 574-1 Chokoji-cho, Omihachiman-shi, Shiga

Main

Facilities

On-board testing

equipment

1. Vehicle

maintenance

facilities

2. Mast Endurance

Test Room

3. Hydraulic Test

Room

4. Powerplant Testing

Room etc.

Indoor Testing Center

and Office

1. Indoor test site

2. Design Lab

3. Anechoic chamber

4. Office etc.

Straight track,

approx. 350 meters

(A turnpike and

a slope are included.)

【Reference】 Strengthen the Product Capability of Material Handling Equipment


Disclaimer:

⚫ This material is prepared for the sole purpose of providing investors with information and

not intended for solicitation of any buying or selling.

⚫ Forward-looking statements in this material are intended as targets or forecasts,

with no commitment or guarantee as to their accuracy.

⚫ Note that actual future business results of Mitsubishi Logisnext may differ from our current forecast.

⚫ Statements concerning the business results are based on various data that we believe

to be reliable, but we do not guarantee the correctness or completeness of such data.

⚫ This material is provided based on the premise that each investor should use it relying on his

or her own judgment and responsibility, whatever the purpose of its use may be.

Mitsubishi Logisnext shall not be liable whatsoever, regardless of the results from using this material.

Please direct inquires regarding this material to the following:

Mr. Kariya or Ms. Kashiwagi

Planning Division

Mitsubishi Logisnext Co., Ltd.

1-1, 2-chome, Higashikotari, Nagaokakyo-shi, Kyoto 617-8585

TEL: 075-956-8610 FAX: 075-951-4038

URL: www.logisnext.com

http://www.logisnext.com/

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